The Board of Directors of Gentoo Media Inc. has decided to begin the process of delisting the company’s shares from Euronext Oslo Børs, while continuing to list the shares on Nasdaq Stockholm. The Board believes that concentrating trading on Nasdaq Stockholm will enhance liquidity and thereby increase shareholder value. This sentiment is echoed by certain key investors and other market participants.
Since 2019, Gentoo’s shares have been dual listed on both Euronext Oslo Børs and Nasdaq Stockholm, allowing shareholders to trade across both exchanges. However, there has been a noticeable shift in investor focus from Norway to Sweden, which has been a prominent hub for the iGaming industry since the dual listing. Concurrently, the number of shareholders on Euronext Oslo Børs has steadily decreased as they migrated their shares to Nasdaq Stockholm, resulting in limited liquidity for trading in Oslo. Gentoo believes that by delisting from Oslo, the liquidity of shares trading in Stockholm will improve.
The delisting process requires approval from both a shareholders’ meeting and Euronext Oslo Børs. The Board will convene a special shareholders’ meeting in mid-March to seek approval for the delisting. If approved by the shareholders, an application to delist will be submitted, and subject to approval by Euronext Oslo Børs, the delisting is expected to be completed by the end of Q2 2025.
